Enacts new GS 105-116.2 to impose an annual franchise or privilege tax on the following companies if the company is not subject to the tax imposed by GS 105-116(a) because the company is not regulated by the NC Utilities Commission (Commission): (1) an electric power company furnishing electricity, electric lights, current, or power for either commercial or domestic use or consumption with gross taxable receipts equal to or exceeding $6 million, and (2) a water company selling water delivered by or through main lines or pipes for either commercial or domestic use or consumption with gross taxable receipts equal to or exceeding $6 million. Sets the tax at 6% of taxable gross receipts, as specified. Makes the tax payable quarterly or monthly, as detailed, with a return due quarterly. Requires a return to include three listed items. Includes legislative findings. Effective for taxable years beginning on or after January 1, 2012.